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Fedbook Selfie Zero Balance Account is the latest offering from Federal Bank for the new and tech-savvy generation which counts on their mobile phones and the internet. The account comes with two amazing features – it is a zero balance account and can be opened by taking a selfie.. The banking services and features of this account are available for both Android and iOS smartphone users.
Federal Bank Savings Account Interest Rate w.e.f. 3rd March 2018
|Account Balance||Rate of Interest Per Annum|
|Less than Rs. 50 Lakh||3.50%|
|Rs. 50 Lakh and less than 10 Crore||3.50% for Rs. 50 Lakh|
|4.00% for the remaining amount (of Rs.50 lakh and above)|
|Rs. 10 Crore and less than 25 Crore||3.50% up to Rs. 1 Lakh|
|6.30% for the remaining amount above Rs. 1 lakh|
|Rs. 25 Crore and above||3.50% up to Rs.1 Lakh|
|6.51% for the remaining amount above Rs. 1 lakh|
The interest rate for the savings account is 3.5% for account balance less than Rs. 50 Lakh, 4% for balance above Rs. 50 Lakh and below Rs. 10 Crore, 6.30% for the balance of Rs. 10 Crore and below Rs. 25 Crore, and 6.51% for Rs. 25 Crore and beyond. The rates above are calculated on the balances maintained at the end of the day and paid-off on a quarterly basis.